Central Bank Publishes Feedback Statement on CP105
The Central Bank published its Feedback Statement on CP105 on 19 January 2017. CP105 sets out proposed amendments to the Central Bank UCITS Regulations in light of UCITS V. This considers responses received from stakeholders and summarises the Central Bank’s comments and decisions. The Central Bank will proceed to amend the Central Bank UCITS Regulations to give effect to the changes described in the feedback Statement.
Revised AIF Rulebook Published
The Central Bank published the latest version of the AIF Rulebook on 3 January 2017 to reflect updated guidance concerning loan originating Qualifying Investor AIFs.
Loan originating Qualifying Investor AIFs were previously prohibited from engaging in activities other than lending and directly related operations. The Central Bank has concluded that it is appropriate to allow other investments linked to the loan origination strategy including investing in debt and equity securities of entities or groups to which the loan originating Qualifying Investor AIF lends or which are held for treasury, cash management or hedging purposes.
Central Bank Confirms Compliance with Market Abuse Guidelines
The Central Bank has confirmed to ESMA that it complies with the following ESMA Market Abuse Guidelines:
- MAR Guidelines on legitimate interests of issuers to delay the disclosure of inside information and situations in which the delay of disclosure is likely to mislead the public; and
- MAR Guidelines on persons receiving market soundings.
Updates on Central Bank Regulatory Developments
In addresses to the Irish Funds Breakfast Briefing on 13 January 2017, members of the Central Bank gave updates on current regulatory themes and priorities.
Gerry Cross, the Director of Policy and Risk gave an update on two key developments, CP86 and Brexit. Gerry’s address can be found here.
Grainne McEvoy, acting Director of Securities & Markets Supervision, highlighted the Central bank’s priorities for 2017, focussing on depositary inspections, risk assessments and the move to automatic authorisation. Grainne’s address can be found here.
Latest Investment Fund Statistics
The Central Bank of Ireland has issued the latest statistics available regarding Irish funds. This includes fund data which can be found here and details relating to new fund launches which can be found here.